What do Dutch annual accounts consist of?
Three components, and a row of documents that are often mistaken for them. What the law calls annual accounts, and what the result is per size class.
The short answer
Dutch annual accounts consist of a balance sheet, a profit and loss account and notes (art. 2:361(1) DCC). The management report and the other information are not part of them, but are filed at the same time where required. Micro entities publish a limited balance sheet; small entities the balance sheet with notes, without a profit and loss account.
Updated 30 October 2026
Key facts
| Law | art. 2:361(1) DCC: the separate annual accounts consist of the balance sheet and the profit and loss account with the notes |
| Not included | Management report (art. 2:391 DCC), other information (art. 2:392 DCC) and auditor's report (only with an audit) |
| Foundation, association, cooperative | Cooperatives and foundations and associations under art. 2:360(3): an operating account instead of the profit and loss account, if that serves the view (art. 2:361(2) DCC) |
| Group | In addition to the separate accounts, also consolidated annual accounts if the entity prepares them |
The three components
Annual accounts means: the separate annual accounts, which consist of the balance sheet and the profit and loss account with the notes, and the consolidated annual accounts if the entity prepares consolidated annual accounts.
- The balance sheet shows the size and composition of equity at the balance sheet date: what the entity has (assets) and what that is financed with (equity and liabilities).
- The profit and loss account shows how the result of the financial year arose from income and expenses. For cooperatives, foundations and associations under art. 2:360(3) it is called an operating account, if that serves the view.
- The notes describe the accounting policies, specify items and give the disclosures the law prescribes, such as the number of employees, the remuneration of directors and events after the balance sheet date.
Together they must give a view such that a sound judgement can be formed of equity and result (art. 2:362(1) DCC). See what annual accounts must comply with.
What is added or dropped per size class
| Class | Prepared by the board | Public (filed) | Extras |
|---|---|---|---|
| Micro (balance sheet total ≤ € 450.000, turnover ≤ € 900.000, < 10 employees) | Balance sheet and profit and loss account in limited form; no notes, a few disclosures below the balance sheet (art. 2:395a DCC) | The limited balance sheet with the disclosures | No management report, no audit |
| Small (≤ € 7,5 million, ≤ € 15 million, < 50) | Balance sheet, profit and loss account and limited notes (art. 2:396 DCC) | Balance sheet with notes, without profit and loss account (art. 2:396(8) DCC) | No management report, no audit |
| Medium-sized (≤ € 25 million, ≤ € 50 million, < 250) | Full annual accounts | Balance sheet, profit and loss account and notes, somewhat simplified (art. 2:397 DCC) | Management report, other information and auditor's report |
| Large | Full annual accounts | Full annual accounts | Management report, other information, auditor's report |
The limits apply to financial years beginning on or after 1 January 2024, and an entity falls into a class if it meets at least two of the three criteria on two consecutive balance sheet dates. The law sets this out in art. 2:395a to 2:397 DCC; an explanation is at when do I become a small entity.
What is often confused with the annual accounts
- The management report (art. 2:391 DCC) is a separate document about the course of affairs and the expectations. It is not part of the annual accounts, but is filed together with them. See difference between annual accounts and annual report.
- The other information (art. 2:392 DCC), such as the statutory provision on the appropriation of profit and the auditor's report.
- The tax return uses the annual accounts as its starting point, but is a different document.
- A cash flow statement is not mandatory for every entity; see do I have to prepare a cash flow statement.
Case: two BVs, two sets of annual accounts
Studio Kustlicht BV is micro: balance sheet total € 310.000, net turnover € 540.000, 4 employees. It prepares a limited balance sheet, with the disclosures mandatory for micro at the foot, and a limited profit and loss account for internal use. Filing: the balance sheet with the disclosures.
Machinefabriek Rijnland BV has a balance sheet total of € 14 million, net turnover of € 31 million and 140 employees: medium-sized. Its annual accounts consist of a full balance sheet, profit and loss account and notes. In addition it has a management report, the other information and an auditor's report from an accountant. Filing: all documents, the balance sheet and profit and loss account in the simplified form that art. 2:397 permits.
Both therefore have 'annual accounts', but the size ranges from one page of disclosures to a document of dozens of pages.
How it works at Jaarrekening.io
The app prepares the components your size class requires: balance sheet, profit and loss account, notes and, where necessary, the management report. It also creates a publication version limited to what your class must make public. For micro that is the balance sheet, for small the balance sheet with notes without profit and loss account.
Sources
Frequently asked questions
What do annual accounts consist of according to the law?
A balance sheet and a profit and loss account with the notes (art. 2:361(1) DCC). For a group, the consolidated annual accounts are added if the entity prepares them.
Is the management report part of the annual accounts?
No. The management report (art. 2:391 DCC) is a separate document, filed at the same time as the annual accounts (art. 2:394(4) DCC). Small and micro entities do not have to prepare it.
Do the annual accounts of a micro BV consist of notes?
No. A micro entity has no notes; it states a few items below the balance sheet (art. 2:395a DCC).
Which components does a small BV file?
The balance sheet with notes, without a profit and loss account (art. 2:396(8) DCC). It does not have to make the profit and loss account public.
What is the difference between annual accounts and annual report?
The annual accounts contain the figures: balance sheet, profit and loss account and notes. The annual report (management report) is the story about the course of affairs, the risks and the expectations.
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Preparing Dutch annual accounts?
Your first set of annual accounts is free, for every size class. Create an account and prepare the annual accounts of your Dutch company under Title 9 of Book 2 of the Dutch Civil Code.
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